TORONTO, June 3, 2013 /CNW/ - Questrade clients have embraced several new option trading tools rolled out last month in the firm's Questrade IQ platforms. Foremost among the tools are 17 multi-leg option strategies, including the most popular - vertical call spreads.
Edward Kholodenko, President and CEO of Questrade says: "This was the most important upgrade to our suite of IQ platforms since we initially launched the software one year ago. Our active clients have frequently placed multi-leg strategies at the top of their wish list. When we delivered, I'm pleased to say our clients quickly moved to add multi-leg trading to their trading style."
The 17 pre-defined options strategies include collars, calendars, straddles and strangles. Clients also can create their own custom strategies. A complete list is available on the firm's website.
Since the release in late April, option trading has increased by about 20%, with options contracts surging by 35%. Trading volumes for stocks have also increased during the past 30 days, as has the number of unique traders, which saw a single-day record set in April.
"News reports are cautious about a market recovery," continues Kholodenko. "But our clients are taking back control of their portfolios."
Throughout the spring and summer, the firm is showcasing each option strategy in a series of videos, blog posts, and strategy profiles in its community, the Exchange. Already published are profiles of married puts and covered calls.
Questrade Inc. is a member firm of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund.
Questrade Inc., headquartered in Toronto, provides Canadians with high-speed, direct access trading in the U.S. and Canadian stock and options markets through its IQ trading platforms, as well as forex and CFD trading. Since 1999, the company has led the industry in delivering outstanding service, exclusive products and services, and competitive pricing. This commitment to innovation has appealed to independent investors, and for the past two years, the company has ranked as Canada's fastest growing online brokerage. For two years, Questrade also earned the designation as one of Canada's Best Managed Companies.
SOURCE: Questrade Inc.
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